President of Dangote Group, Aliko Dangote, has called on federal and state governments to prioritise local investors as a foundation for attracting foreign direct investment and driving national economic growth.
Speaking at the Taraba International Investment Summit held in Jalingo, Dangote emphasized the critical role domestic investors play in building investor confidence and creating a thriving economic environment.
“No foreign investor will come into a country where local investors are not thriving,” he stated. “When local businesses are flourishing, foreign investors will naturally follow. It’s about seeing potential and momentum—once that’s visible, you won’t even need to invite them.”
The business mogul, ranked as Africa’s richest man, also shed light on the mutual benefits of supporting local enterprises, revealing that the federal government earns significantly from his cement operations.
“For every one naira we make in the cement business, 52 kobo goes directly to the federal government,” Dangote disclosed. “This shows the value of enabling businesses to grow—it pays off for everyone.”
He urged the government to provide an enabling environment, stressing that fostering domestic investment would not only attract international capital but also tackle unemployment and poverty through job creation.
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Dangote praised Governor Agbu Kefas for organising the summit, noting that Taraba’s abundant resources—especially its fertile agricultural land—present immense opportunities for investment.
“This is home, and we will invest here,” he declared. “We are committed to creating jobs and contributing to the state’s development.”
Also lending his voice, Chairman of the United Bank for Africa (UBA), Tony Elumelu, assured stakeholders of the bank’s interest in supporting investment initiatives in Taraba.
The summit brought together investors from within and outside Nigeria, with discussions centred on unlocking the state’s economic potential and encouraging sustainable partnerships.